Our preference: short positions below 1.0605 with targets at 1.0540 & 1.0510 in extension.
Alternative scenario: above 1.0605 look for further upside with 1.0620 & 1.0640 as targets.
Comment: the RSI shows downside momentum.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
GBP/USD Intraday: the downside prevails.
Pivot: 1.2255
Our preference: short positions below 1.2255 with targets at 1.2145 & 1.2110 in extension.
Alternative scenario: above 1.2255 look for further upside with 1.2280 & 1.2300 as targets.
Comment: the RSI shows downside momentum.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
USD/CHF Intraday: the bias remains bullish.
Pivot: 1.0100
Our preference: long positions above 1.0100 with targets at 1.0170 & 1.0195 in extension.
Alternative scenario: below 1.0100 look for further downside with 1.0070 & 1.0050 as targets.
Comment: the RSI shows upside momentum.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
USD/JPY Intraday: key resistance at 114.10.
Pivot: 114.10
Our preference: short positions below 114.10 with targets at 113.55 & 113.30 in extension.
Alternative scenario: above 114.10 look for further upside with 114.35 & 114.65 as targets.
Comment: the RSI lacks upward momentum.
Green Lines Represent Resistances | Red Lines Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
